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Calculate maximum compensation before you start your search You need to hire a new physician at your practice. Before you hang out the "Help Wanted" sign, you must first determine how much to compensate your new doctor. "Hiring a new physician is like finding a new mate-if they’re only looking to marry the person with the biggest paycheck, then the marriage probably isn’t going to last," says Lawrence L. Anderson, MD, FACP, of Dermatology Associates of Tyler (TX). The interview process can help you select a well-qualified candidate, but you’ll need to offer an equitable, competitive starting salary to get your sought-after recruit in the door. To reach this number, consider the market in which you practice, your budget as a whole, and the individual candidate’s needs.